Utility Theory - Total, Marginal and Average Utility

Utility Theory - Total, Marginal and Average Utility. A video covering Utility Theory - Total, Marginal and Average Utility
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[@snehabalaa1187]

God bless you, sir, for you are LEGENDARY! You've helped me understand so many concepts in such little time. Please continue to make these videos, I cannot stress as to how many students will benefit from this content.

[@teiteneu4275]

Thank you so much Sir for your simple explanation. I studied the concept of utility for a day but never grasp anything. Yet you come in with your 10min explanation and help me understand more than I need to know about Utility.

[@adebayooletubo7181]

A great teacher. Very illustrative and well delivered. Thank you.

[@dawndusk5796]

You're a legend Sir !! Good Job 👍 Helping me in preparing for the Exams (A2 Economics)

[@anistounsi4566]

Just note that the marginal utility curve is the gradient function of the total utility curve, therefore as differentiation (for those who do maths) states, the turning point of the total utility curve is when the gradient is 0, therefore the gradient function (which is MU) will be 0 at the turning point of the total utility curve.

[@amalkadir4616]

Yes a good reminder indeed

[@Fikile01]

This is very interesting, I am not in economics but you explained so well that I understood what the Utility theory is.

[@shahjahanahmad3029]

This is helping me in my BSc Econ revision. Thank you sir

[@vionettesantiago2301]

thank you for a very good and simple way to explain UT.

[@nelisafreitas739]

You are brilliant. I appreciate your lessons.

[@tarungupta7483]

Excellent I am subscribing your videos. You explained the concept and then provided and example in day to day life

[@andrewl1967]

"Cuka-cula". Love you xx

[@crystaltyshurna7645]

You're the best. thank you!.

[@emmakwame9810]

you have made it so simple n easy to understand......bless up

[@nauyz]

Thank you so much for excellent explanations sir!

[@benmuncaster3375]

This is what gets me up in the morning, keep it up 👍🏻

[@tominns7286]

Ben Muncaster Big love for econplusdal thankful always

[@thesnackbandit]

Testosterone is what gets me up in the morning, but to each their own.

[@aliarshad8616]

Great work sir! Very helpful videos for revision

[@shalani4685]

clearly explained. THANK YOU..

[@melanieubas2744]

thank you so much for helping me understand

[@sabahwahedna505]

Can you explain indifference curve plz??

[@user-we1br3lm3v]

Pleaseeeee

[@vertigofall]

Good explanation thanks mate!

[@lilgamerx2777]

Great job sir!

[@5c0tt5t3r]

great video, will there be behavioural videos out soon?

[@carolinepatterns8165]

Wow! Really good video!👌

[@ronyswarnakar331]

awesome sir, very useful .....

[@EricMakesA]

love u bro, u the goat

[@tarekaboujeeb3071]

what would my life be without you

[@Malawian-tutor]

This is fire💥

[@milajohari9796]

hi I just want to ask whether you have budget line and indiffernce curve video lesson?.. id didnt find it

[@nibhanbaig6675]

Sir please add inndifference curve and budget line in your playlist very imp part of the aleval sylabus

[@aaateam111]

I realised allot of teachers who touches upon this subject uses numbers of 100s or even 1000s to show utility while you use two digit number to show it.
Is there a rule to this or can it be any number as long as ratio is right?

[@samuela775]

love dis brudda

[@arranhc]

Good old dal lad sorting the boys out as always!

[@aartijarwani]

Is the slope of MU curve constant or constantly declining?

[@kelly.th.aung24]

Thank you🙏

[@vellenmooneesawmy9907]

thank you

[@jasthfc352]

life saver

[@thedistributedexchangebloc7788]

Am I wrong, but don't economists only use one value to measure utility? Why don't economists use multiple values to effectively measure utility? It is possible that consumption of something acquired could end up increasing satisfaction in one area, and decrease it in another one? Am I missing something?

[@naturopathychannel8476]

thankyou sir

[@kushalineermul6740]

Is there a video on indifference curve?

[@soundsgoodsilence]

this assumes the cups are uniform utility but can we imbue each proceeding cup with more utility than the one before it?

[@anvicojovia508]

Thanks so much but what is cardinal utility and what are it's assumptions

[@laney6j1]

i love you man

[@mayaessam6858]

I just wanna ask, why is it that price is assumed to be equal to utility?

[@joehunt8013]

you da best, i looooooooooe u

[@merrinahsiboli1145]

Perfect

[@anvicojovia508]

But why is it that these calculations am not getting them since the way back more so for Marginal which is a change. So may I have a simple video on that please. On how those negative digits are got please

[@numaniqbal2261]

Thanks

[@rachelgrace37426]

Thank you very much sir..please do a video on indifferencs curv3s and budgetlines😭

[@rachelgrace37426]

If you dont do this video i will fail the topic, you are the only tutor i understand, used the channel for my AS and got an A, im using it for A2 too to maintain the A. Thanks for the vid in advance

[@sahil171091]

INSIGHTFUL

[@simrannijjer8070]

Love u

[@nazirnasir2157]

good

[@hamzaasghar8352]

Indifference curve ?

[@paulsenfuma8834]

Nah thank YOU mybro 🧏‍♂️✊🏿

[@master4755]

Why can't consumers stop consuming at 4 units, provided that total utility is the same for both 4 units and 5 units? The only difference being you could have consumed one extra at no 'extra cost' or no extra benefit - but is this needed? Because utility has already been maximised

[@lemtschimll8172]

King 🤴

[@katyakiasatinasukayat6939]

Excuse me, sir how to find the marginal utility?

[@MXGGRIMZ]

what is your view on the new exam style and the new topics for this year? exams are now linear.

[@EconplusDal]

I really like the course - great to learn and it provides you guys with a great grounding in economics. The exams will be tough, to learn all that content for a very intense period of examinations will be testing

[@aamirmengal1016]

@@EconplusDal e

[@Daynesy999]

can you add a MC curve on this diagram? to show MC=MU where you'd actually consume?

[@Adam-do8ny]

No, the marginal utility already takes into account both the costs and benefits (in terms of utility). This is why after the 6th one the MU is negative.

[@TabbyPlays]

Sir will you upload videos on demand and supply and their elasticity? Also videos on the production function in the short and/or long run?

[@4doortruck824]

Tabby .. Im pretty sure hes already done elasticities of supply and demand

[@nishchayjain2343]

👍

[@kidin9817]

wow

[@noortaiyeba1068]

but even at 4 cups the total utility is 20

[@EconplusDal]

Hi Noor, don't worry about the numbers too much. Just think it is worth drinking cups as long as the marginal utility is positive

[@noortaiyeba1068]

thanks for replying